Indian power transmission company Sterlite Power has acquired Kishtwar Transmission, a special purpose vehicle (SPV) owned by PFC Consulting (PFCCL) in Jammu and Kashmir (J&K), India.

PFCCL is a subsidiary of Power Finance Corporation, a public sector enterprise.

The financial details of the deal have not been disclosed.

In March this year, Sterlite Power secured the Kishtwar Transmission project via a tariff-based competitive bidding (TBCB) process.

Having acquired the Kishtwar Transmission SPV, Sterlite Power will build, own, operate and maintain a ‘critical’ transmission project in J&K for a period of 35 years.

The project includes a 400/132kV GIS substation at Kishtwar, as well as a 400kV line-in-line-out transmission line from Kishenpur to Dulhasti.

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Once completed, the transmission line will be used to export 1GW of power from the Pakaldul Hydro Electric Project to the Kishtwar substation.

Sterlite Power India Transmission Business director and CEO Manish Agarwal said: “We at Sterlite Power are committed to empowering humanity by ensuring power connectivity through our power transmission projects.

“With (the) Kishtwar transmission project, we aim to further strengthen the power infrastructure and usher economic development in the J&K region.”

The Kishtwar project is Sterlite Power’s 17th power transmission project in India bought via a TBCB process.

The company currently has 30 projects in its portfolio, covering around 14,602km of transmission lines across India and Brazil.

It provides bespoke solutions for the upgrading, uprating and fiberising of existing transmission infrastructure projects, as well as power conductors, extra-high voltage cables and optical ground wires.

In July this year, Sterlite Brazil was awarded Lots 05 and 09 at transmission auctions held at B3 in São Paulo.

The National Electric Energy Agency (ANEEL) auctioned a total of 13 lots for the construction and maintenance of 5,425km of transmission lines in Brazil.